v3.25.3
Real Estate Properties
9 Months Ended
Sep. 30, 2025
Real Estate [Abstract]  
Real Estate Properties Real Estate Properties
Acquisitions and Expenditures
We did not make any acquisitions during the years ended September 30, 2025 and December 31, 2024.
During the years ended September 30, 2025 and December 31, 2024, we made improvements, excluding tenant-funded improvements, to our properties totaling $0.1 million and $12.3 million, respectively.
Property Dispositions:
During the years ended September 30, 2025 and December 31, 2024, we sold the following properties, which did not represent strategic shifts under ASC Topic 205 (dollars in thousands):
PropertyDate SoldNumber of PropertiesNumber of BuildingsSquare FootageGross Sale Price(1)
Gain on Sale(2)
Bridgepoint Square
October 2024440,007 $31,500 $857 
206 East 9th StreetNovember 2024175,510 33,000 N/A
1250 H Street, NWNovember 2024196,490 27,500 N/A
1225 Seventeenth StreetFebruary 2025709,402 $132,500 N/A
1,521,409 $224,500 $857 
(1)Gross sale price is before transfer taxes and credits, such as capital costs, contractual lease costs and rent abatements.
(2)Reflects the gain on sale recognized on the consolidated statement of operations for the ten months ended October 31, 2024. Gain on sale is not recorded under liquidation basis accounting.
Lease Payments
Rental revenue consists of the following (in thousands):
Ten Months Ended October 31,
2024
Lease payments$28,468 
Variable lease payments15,148 
Rental revenue$43,616